BoA sees US double-dip danger from `fiscal chicken’ – Telegraph

Posted on August 24, 2010


Ethan Harris, the bank’s chief North American economist, said early data for August suggest that “an already weak recovery is getting weaker” with a rising risk of a relapse into recession, yet the two parties seemed determined to outbid each other with austerity measures.

“Politicians are clamouring for quick action, not to stimulate a dangerously weak economy, but to bring down the budget deficit. We strongly support efforts to bring down the deficit, but only once the economy is on a healthy growth trajectory,”

via BoA sees US double-dip danger from `fiscal chicken\’ – Telegraph.